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Fund investors are confident that they can easily select superior fund managers. They are wrong.

John C. Bogle

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John C. Bogle
Age: 89 †
Born: 1929
Born: May 8
Died: 2019
Died: January 16
Economist
Financier
Investor
Montclair Township
John Clifton Jack Bogle
Jack Bogle
Superiors
Managers
Investing
Easily
Select
Wrong
Investors
Superior
Fund
Confident

More quotes by John C. Bogle

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Your success in investing will depend in part on your character and guts, and in part on your ability to realize at the height of ebullience and the depth of despair alike that this too shall pass.
John C. Bogle
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The business has some problems, substantial problems. You go fix it, you young people. That's what you're there for. Don't believe what the old generation tells you. We don't know a damn thing, including Bogle.
John C. Bogle
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In Las Vegas we all know that it's the croupiers who win. At the race track, it's those who control the handle who win. State lotteries, does anybody think the participants in the lottery win? No. The state wins.
John C. Bogle
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It's amazing how difficult it is for a man to understand something if he's paid a small fortune not to understand it.
John C. Bogle
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The transfer of Wall Street from private ownership to public ownership has been a big step backward.
John C. Bogle
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Income earned by the sweat of your brow should be taxed at the lowest rates, not the highest. Capital gains should be taxed at a higher rate.
John C. Bogle
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Time is your friend impulse is your enemy.
John C. Bogle
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If it is hard to imagine that 20% of losses on the stock market, you should never participate
John C. Bogle
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So the misplaced assumption is that we have this whole new institutional element where these [financial] institutions are looking after their own financial interests before the financial interests of the principals, princi-pals whose interests they are really bound to observe first.
John C. Bogle
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Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.
John C. Bogle
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The principal role of the mutual fund is to serve its investors.
John C. Bogle
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But whatever the consensus on the EMH, I know of no serious academic, professional money manager, trained security analyst, or intelligent individual investor who would disagree with the thrust of EMH: The stock market itself is a demanding taskmaster. It sets a high hurdle that few investors can leap.
John C. Bogle
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If the data do not prove that indexing wins, well, the data are wrong.
John C. Bogle
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Rely on the ordinary virtues that intelligent, balanced human beings have relied on for centuries: common sense, thrift, realistic expectations, patience, and perseverance.
John C. Bogle
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If your fund doesn't last for the long term, how can you invest for the long term?
John C. Bogle
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On balance, the financial system subracts value from society
John C. Bogle
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I would always advise young people to follow their star - not my star. They have to live their own life. If they decide they want to go into the investment business, do it, but make it a better business than it is today.
John C. Bogle
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Speculation leads you the wrong way. It allows you to put your emotions first, whereas investment gets emotions out of the picture.
John C. Bogle
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The miracle of compounding returns has been overwhelmed by the tyranny of compounding costs.
John C. Bogle
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Sure there are some companies at the margins of our society that probably do that and I think we all have the responsibility as consumers and as investors to avoid them like the plague. If we do, they won't last very long. Doing what's right is the only possible formula for long-term - I emphasize long term - business success.
John C. Bogle